U.S. COMMODITY FUTURES TRADING COMMISSION BRINGS FRAUD CHARGES AGAINST SOUTH
AFRICAN RESIDENT JAMES DE WET WHO OPERATES COMPANY TEAM FOREX INTERNATIONAL AND
WEBSITE

CFTC Alleges That de Wet, Doing Business As Team Forex International,
Misrepresented His Trading Track Record

WASHINGTON, D.C. – The U.S. Commodity Futures Trading Commission (CFTC)
announced today the filing of an enforcement action in the United States District
Court for the Southern District of New York against James de Wet (de Wet)
of Port Elizabeth, South Africa. De Wet operates a website,
www.teamforex.com, through which he markets managed foreign currency
accounts under the name Team Forex International (Team Forex).

Specifically, the CFTC complaint alleges that de Wet
engaged in the fraudulent solicitation of customers by misrepresenting his past
performance. According to the CFTC complaint, de Wet’s actual trading
results in the managed accounts were, in certain instances, materially different
from the performance record displayed on the Team Forex website. The complaint
also alleges that de Wet falsely claimed on the website that the purported trading
results were “audited.”

The CFTC is seeking preliminary and permanent injunctive relief, repayment to
defrauded customers, the return of ill-gotten gains, and monetary penalties for
violations of the Commodity Exchange Act.

The CFTC appreciates the cooperation of the Financial Services Board of the
Republic of South Africa in bringing this matter.

The CFTC encourages members of the public to bring to our attention any suspicious
activities involving futures or commodity options, including matters involving foreign
currency (forex) investments or suspicious Internet websites.

In addition, the CFTC publishes a series ofConsumer Advisoriesat
http://www.cftc.gov/cftc/cftccustomer.htm#advisory alerting the public to
warning signs of possible fraudulent activity and offering precautions individuals
should take before committing funds.